No one likes to think about the day when they are gone. However, many of us also like to know what will happen to our assets and properties after we pass away. In the state of Indiana, there are ways that the court will decide to deal with your estate if there is no will, and these ways could be counter to your wishes. It is crucial that you make your true wishes known by creating a will with the help of experienced Indiana estate planning attorney Barbara J. Baird. Serving the Indianapolis-area, she has the experience and skill to make the process simple, and one that will save your family and loved ones heartache after you pass.
THE GOOD NEWS: Families who adopt a child in 2012 may be eligible for the Adoption Tax Credit of up to $12,650. A tax credit is a dollar for dollar reduction in your overall tax liability. This is a much more valuable benefit than a tax deduction which only lowers your taxable income and reduces your taxes according to your tax bracket
Adopting through the foster care system can be challenging in many ways. Often there is an agonizingly long wait for completion of the legal process to terminate parental rights or obtain voluntary consents to the adoption. And once the adoption petition is filed, negotiations for adoption assistance begin. The process can be confusing, and the rules seem to change without warning. State and Federal assistance is not as available or as generous as it has been in the past. More than ever, it is important to have the assistance and advice of an attorney.
It is always gratifying to help clients with the adoption of a child, but I never cease to be amazed at the love, generosity and patience of those who take the tremendous risk of adopting older children from our foster care system. Recently I was able to help a client negotiate with the parents of a sibling group of four children for their consent to my client's adoption of the children. This avoided a long drawn out proceeding to terminate their parental rights that could delay adoption for more than a year.
Today I got the call that you are never happy to hear--that a client of over 10 years died suddenly of a massive heart attack. Fortunately, she had a comprehensive estate plan, with a will, revocable living trust, funeral planning declaration, powers of attorney, etc. AND, she had been in to see me to update her documents in the past 2 years. Her estate is organized so that no probate administration will be required and transfer of property to her children and other beneficiaries should proceed smoothly and quickly.
The Law Office of Barbara J. Baird represents clients living in Indianapolis, Carmel, Fishers, Zionsville, Noblesville, Danville, Greenfield, Bloomington, Lafayette, Fort Wayne, and South Bend, Indiana. Marion County · Hamilton County · Boone County · Johnson County · Hendricks County · Hancock County